NASDAQ futures are coming into Friday flat after an overnight session featuring normal range and volume. Price worked down through the Thursday night low, briefly, tagging the Wednesday VPOC, before pushing back to unchanged. At 8:30am Personal Spending data came in below expectations.
Also on the economic docket today we have the Fed’s Neel ‘Crazy Eyes’ Kashkari answering questions at 10am and the Baker Hughes rig count at 1pm.
Yesterday we printed a normal variation up. Price slowly pushed higher but failed to take out the swing high, which was made during extended hours late Wednesday night.
Heading into today my primary expectation is for buyers to work up through overnight high 5441 and make a run for the ETH high up at 5451 to probe open air into month-end.
Hypo 2 sellers press down through overnight low 5421 and tag 5408 before two way trade ensues.
Levels:
Volume profiles, gaps, and measured moves:
